A rare 5 star offering -- worth reading. Retire Early has yet to review a book that gets essentially everything right on the subject of early retirement, but Gillette Edmunds', How To Retire Early and Live Well comes very close. This is a very personal book by a former tax attorney and journalist who retired in 1981 at age 29. He details what he has learned about "living off his investments" and provides some personal examples of how to ride out the ups and downs of the market. All in all How To Retire Early and Live Well is an excellent book and offers some very thought provoking ideas on the merits of diversification. It's one of the few volumes that merit 5 Stars from Retire Early's reviewers. -- The Retire Early Home Page
From the Publisher
Millions of readers have amassed nest eggs in savings, retirement plans, stock options or company stock, real estate, inheritances, or businesses they have built up over the years. According to the September 20, 1999 issue of Barron's there are six million households with $1 million dollars or more. The author estimates there are 15 million households with $500,000 or more. Most of these people can retire right now and do not know it.
HOW TO RETIRE EARLY AND LIVE WELL WITH LESS THAN A MILLION DOLLARS tells readers if they have enough to retire, and once they retire, how, step-by-step, they should invest to be certain their money will last the rest of their life. The author did not want anyone just starting retirement today to go through the confusion and learning process he went through. Therefore, he set out exactly what they need to do to live the rest of their lives on their investments. The author's message is encouraging. You can retire early in style with less than a million dollars and over the years, you will watch your nest egg grow larger and larger. Just follow the instructions in the book. You won't out live your money; you won't be forced back into a job you hate; taxes will not hurt you; you will survive market crashes; you do not have to pray that your rich relatives die soon. Enjoy your early retirement and if you want to worry, worry about where you are going on your next trip not about money. The money will grow and support you better and better over time.
This book is intend for any reader who wants to retire early and wants to know what it takes as well as all current retirees, savers within five years of retirement, anyone who has put together a decent size nest egg, anyone living partially off investments and partially off social security, pension payments, part-time work, consulting, or other forms of income, and the professionals who are advising these people but have no personal experience with living off investments. There are many professionals today who tell people they need two million dollars or more to retire early. This book refutes that myth. The book will also be of interest to people who are just now thinking about retirement and wondering what it takes to get there and what it is like when they are there. However, this is not a book for people looking for hot stocks, internet IPOs, day trades, shorts, options, derivatives, leveraged strategies, investments named after animals. This book is about long-term investing. Long-term here means 30 years not 30 days or 30 minutes.
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